Highlights of the Global Offering:

-- Number of Offer Shares under the Global Offering: 80,220,000 Offer Shares (subject to the Over-allotment Option);

-- Number of Hong Kong Offer Shares: 8,022,000 Offer Shares (subject to reallocation);

-- Number of International Offer Shares: 72,198,000 Offer Shares (subject to reallocation and the Over-allotment Option);

-- Offer Price Range: HK$13.88 to HK$16.88 per Offer Share;

-- The Hong Kong Public Offering is expected to close at 12:00 noon (at 11:30 a.m. for submitting applications under the eWhite Form Service) on Thursday, November 4, 2021;

-- Dealings in the Shares on the Hong Kong Stock Exchange are expected to commence on Saturday, 11 November 2021;

-- J.P. Morgan Securities (Far East) Limited and China International Capital Corporation Hong Kong Securities Limited are the Joint Sponsors.

ANE (Cayman) Inc. plans to offer an aggregate of 80,220,000 Shares (subject to the Over-allotment Option) under the Global Offering, of which 8,022,000 Shares (subject to reallocation) will be offered in the Hong Kong Public Offering, and 72,198,000 Shares (subject to reallocation and the Over-allotment Option) will be offered by way of International Placing. The Offer Price will not be more than HK$16.88 per Offer Share and is expected to be not less than HK$13.88 per Offer Share. The Company is also expected to grant the Over-allotment Option, at any time from the Listing Date until Saturday, December 4, 2021, being the 30 days after the last day for lodging applications under the Hong Kong Public Offering, pursuant to which our Company may be required to issue up to an aggregate of 12,033,000 additional Shares. If the above Over-allotment Option is exercised in full and the final issued price capped at the maximum Offer Price (which refers to HKD16.88 per share), the total amount of funds raised will up to approximate US$200 million.

The Hong Kong Public Offering will commence on Saturday, 30 October 2021 and is expected to close at 12:00 noon (at 11:30 a.m. for submitting applications under the eWhite Form Service) on Thursday, 4 November 2021. Dealings of the Shares on the Main Board of Hong Kong Stock Exchange are expected to commence on Thursday, 11 November 2021. The Shares will be traded in board lots of 500 Shares each.

Assuming an Offer Price of HK$15.38 per Offer Share (being the mid-point of the stated range of the Offer Price of between HK$13.88 and HK$16.88 per Offer Share), the Company estimates that we will receive net proceeds of approximately HK$1,124.1 million from the Global Offering after deducting the underwriting commissions and other estimated expenses in connection with the Global Offering. The Company intends to use the net proceeds from the Global Offering for the following purposes and in the amounts set out below, subject to changes in light of our evolving business needs and changing market conditions:

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